NIFTY OUTLOOK Date: 23rd October 2025
Close: 25,868.60 FII: +96.72 cr DII: -607.01 cr
As discussed yesterday, the market behavior remained broadly on expected lines. The positive momentum in Nifty extended the rally up to 25,935 during the day.
However, a bearish star candlestick appeared on the daily chart, indicating a potential pause in the uptrend and indecision about the next directional move.
For the upside, above 25,920, bulls will likely attempt to regain strength, which could push Nifty toward 25,970–26,018. If buying momentum sustains, there is also a chance to test 26,068.
On the downside, immediate support is placed at 25,820–25,770. A sustained break below this zone could drag Nifty further toward 25,720–25,670.
BANK NIFTY OUTLOOK:
Spot: 58,007.20 PCR: 1.13 Max CE OI: 57,000 Max PE OI: 57,000
On 21st October 2025, Bank Nifty closed at 58,007.20 (-26 / -0.04%), with an intraday movement of 268.35 points. The index made a high of 58,155.55 and a low of 57,887.20.
Technical View:
Key support and resistance levels are at 57,250 and 58,600 respectively.
Intraday support and resistance stand at 57,933 and 58,081 respectively.
Intraday Trading Strategy:
Go long above 58,081 with SL 58,056.40 and target 58,154.80.
Go short below 57,933.40 with SL 57,958 and target 57,859.60.
RSI (Relative Strength Index): 76.20
(Above 70 is considered overbought; below 30 oversold.)
Bank nifty Day SMA Analysis:
Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 0 out of 8 SMA’s.
No candlestick Pattern was identified in bank nifty.
Macros:
- Dollar index is @ 98.85
- S&P 500 is @ 18.60
- Brent crude is @ 64.16
- US 10 years bond yield.
Note:
On the global front, renewed China–US trade tensions have resurfaced as the US announced additional sanctions on Russia and is considering restricting several high-tech exports to China, including laptops, jet engines, and advanced software tools.
According to Reuters, these measures are still under discussion and may be used as leverage ahead of a possible meeting between US President Donald Trump and Chinese President Xi Jinping.
Meanwhile, US–India relations gained momentum after Trump confirmed speaking with Prime Minister Narendra Modi regarding trade and energy cooperation. Modi reportedly assured the US that India would limit crude purchases from Russia, which fueled optimism for a potential trade deal.
As a result, Indian markets opened with a huge gap-up, reflecting improved sentiment on hopes of a US–India trade understanding. However, reports also indicate that PM Modi may skip the ASEAN Summit (26–28 Oct) due to the Bihar elections, which could temporarily impact diplomatic momentum.
The market continues to exhibit strong underlying momentum backed by FII inflows and global optimism on trade developments. While Nifty faces immediate resistance near 26,000, sustained buying and positive global cues could trigger a new leg of the rally. Traders should watch 25,770 on the downside and 26,068 on the upside for near-term directional clarity.
Contributed by
Ashok bhandari : INH000019549
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